. The data reflects a rapid rise in the number of people retiring, likely raising pressure on Beijing to accelerate unpopular plans to raise official retirement ages.
Demographic change was the “driving factor” in 2022’s employment drop, said Lu Feng, a labour economist at Peking University, as the population reaching the age of 60, a common retirement age in China, “increased dramatically”. As a result, the number of employed people in China “could rise this year as people return to the workforce,” said Larry Hu, China economist at Macquarie Securities Ltd, adding that “it will remain on the structural downtrend due to the ageing population.”
The plan is on track & their achievements they aimed for too
Wow that’s a staggering number…
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